TODAY.AZ / Business

SOCAR Georgia discloses plans for 2019

08 January 2019 [10:00] - TODAY.AZ

By  Trend


SOCAR Georgia company (the Georgian subsidiary of the Azerbaijani state oil company SOCAR) is learning from the experience of foreign distribution companies to make innovative breakthrough in development, the company told Trend.

"This work is related to the reforms that are carried out in Georgia after the signing of an association agreement with the EU," the company.

"The agreement envisages bringing the Georgian legislation in line with European norms," the company said. "First of all, the reforms were carried out in the energy sector."

"Today one of the most attractive global trends is the concept of smart cities," SOCAR Georgia company said. "The utilities sector is an integral part of this concept."

"Our company has already invested in the development of various modern solutions recently, which are planned to be implemented in 2019," the company said. "Among these solutions are the Geographic Information System [a system for collecting, storing, analyzing and visualizing spatial data and related information about the necessary objects], customer relationship management system, mobile applications for field staff based on Android, a platform for distance learning of specialists and others."

SOCAR Georgia stressed that a big multifunctional complex is planned to open in Terjola, Georgia in 2019.

"The complex will sell all types of fuel, namely, diesel, gasoline, CNG, LPG, fast charger for electric vehicles," the company said. "Shops and international fast food brands such as Wendy’s and Dunkin’ Donuts will be located here."

The company’s activity has rapidly intensified recently by increasing its presence in the market and this growth will continue in the future, but not so rapidly, as the penetration rate in Georgia has reached 78 percent.

The company intends to focus on increasing the share of premium products in the sales portfolio in the oil product market in 2019 and greatly expand the non-fuel business with the Way Mart brand.

The total amount of SOCAR Georgia’s investments reached $57.38 million in January-November 2018.

SOCAR exports gas being extracted at Azerbaijani fields through its own funds to Georgia without participation of foreign companies. Moreover, Georgia receives Azerbaijani gas extracted at Shah Deniz offshore field with participation of SOCAR and foreign companies.

Presently, SOCAR is the major supplier of natural gas, oil and oil products to Georgia. SOCAR’s subsidiaries are engaged in expansion and modernization of the country’s gas distribution systems, development of filling stations under SOCAR’s brand and have an oil terminal in Georgia’s Kulevi Black Sea Port, which supplies Azerbaijani oil and oil products to the world markets.

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